The companies cited are used only as examples for this comment. They are merely 2 of many conducting business on the internet that could expose consumers to identity theft and other types of fraud.
This is primarily an alert to fellow residents of Virginia. Pay Day lenders are regulated in the Commonwealth of Virginia and MUST have a physical location within the state and be licensed to operate in order to provide you a loan.
Online lenders with no licensed office in the state CANNOT legally give you a loan. Additionally, services such as ClicknLoan and Cash Mojo are NOT authorized to do business in Virginia. This is also per state law.
For specifics you will want to read the information the Bureau of Finance in Virginia posts on its websitse but it is well worth the read and gives you information you should read before going to a lender that has licensed business locations in the state.
The Bureau of Finance is referred to by the State Corporation Commission's documents. This link takes you to the specific section of Virginia law that applies to pay day lending within the state: http://leg1.state.va.us/000/reg/TOC10005.HTM.HTM#C0200. Additionally the Commonwealth provides a list of licensed pay day lenders and their office locations that is current as of May 5, 2014 at the following link: http://www.scc.virginia.gov/bfi/reg_inst/pay.pdf. There are too many provisions in the law to quote here, but I hope these links are helpful to people living in Virginia who want to avoid predatory lenders who are attempting to violate Virginia laws designed to protect consumers from unscrupulous parties - including those who are phishing to obtain information for committing fraud.
If you don't live in Virginia, take the time to familiarize yourself with your state's regulations concerning pay day loans to avoid headaches or nasty surprises. If you've already sought a loan using the search services provided by any of these companies, be aware the responses may actually come from similar search services or bogus lenders.
ClicknLoans Reviews
The companies cited are used only as examples for this comment. They are merely 2 of many conducting business on the internet that could expose consumers to identity theft and other types of fraud.
This is primarily an alert to fellow residents of Virginia. Pay Day lenders are regulated in the Commonwealth of Virginia and MUST have a physical location within the state and be licensed to operate in order to provide you a loan.
Online lenders with no licensed office in the state CANNOT legally give you a loan. Additionally, services such as ClicknLoan and Cash Mojo are NOT authorized to do business in Virginia. This is also per state law.
For specifics you will want to read the information the Bureau of Finance in Virginia posts on its websitse but it is well worth the read and gives you information you should read before going to a lender that has licensed business locations in the state.
The Bureau of Finance is referred to by the State Corporation Commission's documents. This link takes you to the specific section of Virginia law that applies to pay day lending within the state: http://leg1.state.va.us/000/reg/TOC10005.HTM.HTM#C0200. Additionally the Commonwealth provides a list of licensed pay day lenders and their office locations that is current as of May 5, 2014 at the following link: http://www.scc.virginia.gov/bfi/reg_inst/pay.pdf. There are too many provisions in the law to quote here, but I hope these links are helpful to people living in Virginia who want to avoid predatory lenders who are attempting to violate Virginia laws designed to protect consumers from unscrupulous parties - including those who are phishing to obtain information for committing fraud.
If you don't live in Virginia, take the time to familiarize yourself with your state's regulations concerning pay day loans to avoid headaches or nasty surprises. If you've already sought a loan using the search services provided by any of these companies, be aware the responses may actually come from similar search services or bogus lenders.